Building Details

Building Size 3,800 SF

Year Built 1964

Buildings 1

Tenancy Multi

Listing Agency: REMAX REALTY ONE

Listed By: David Ivory · License #3109873 Show Phone

Source: Elliman

Added: Sep 18 Changed: Sep 19 Last Checked: Sep 19 at 10:33AM

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Investment Insights

Based on property information with market context.

Built in 1964, this 3,800-square-foot commercial building occupies 0.44 acres and contains three individual retail units. Each unit has a dedicated electrical meter, while recent improvements include a newer roof and updated electrical panels. The property also provides approximately 19+ parking spaces.

The building sits at the intersection of Highway 491 and Beverly Hills Blvd in Beverly Hills, Florida. Nearby national retailers and service providers include Walmart Supercenter, Target, Walgreens, ALDI, Dollar General, and AutoZone. The site has a Walk Score of 0 and a Bike Score of 25, reflecting a primarily vehicle-oriented setting.

Key Highlights

• 3,800‑square‑foot commercial building on 0.44 acres
• Three individual retail units with separate electrical meters
• GNC zoning

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$36,509

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.30%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$730,180 $730.2K

Cap Rate 7%

$521,557 $521.6K

Cap Rate 9%

$405,656 $405.7K

Market Conditions

NOI Build-Up for 3,800 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$57.0K $15.00/SF

− Vacancy

−$4.8K −$1.28/SF

EGI

$52.2K $13.73/SF

− OpEx

−$15.6K −$4.12/SF

NOI

$36.5K $9.61/SF

Area

Citrus County, FL

Vacancy

8.50%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$730,180

Cap Rate 7%

$521,557

Cap Rate 9%

$405,656

Alternative Uses

Best Use

Retail

$521.6K

$456.4K – $608.5K (±1% cap)

NOI $36,509 @ 7.0% cap · market cap 7.30%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$853.9K

$747.1K – $996.2K (±1% cap)

NOI $59,770 @ 7.0% cap · market cap 11.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Wishing well thrift ... Department Store Living Waters Ministries ... Discount Store Beverly Hills Bilingual ... Church

Suggested Use

Top Pick Law Firm HVAC Service Building Supply Hair Salon Dental Office Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

456

Businesses Nearby

14k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 79% Dining 21%

Dollar General Shops & Services

8,547 visits/mo 0.1 miles

H&R Block Shops & Services

2,016 visits/mo 0.2 miles

Papa John's Pizza Dining

1,627 visits/mo 0.2 miles

SUBWAY Dining

1,413 visits/mo 0.1 miles

Cadence Bank Shops & Services

800 visits/mo 0.5 miles

Demographics for 34465, FL

17,960

Population

9,466

Households

1.9

Avg Household Size

58

Median Age

22%

College-Educated

92%

High-School Grad

24.3 sq mi

ZIP Area

739

Density / Sq Mi

$55,513

Median Household Income

$32,536

Median Earnings

$1,146

Median Rent

$233,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - GNC-zoned property with separate electrical metering for each suite.

Where is this storefront property located?

The property is located at 1 BEVERLY HILLS Beverly Hills, FL.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: 3,800‑square‑foot commercial building on 0.44 acres; Three individual retail units with separate electrical meters; GNC zoning